Aura Silver Enters Into Binding Letter Agreement to Increase Interest in Taviche Gold/Silver Project to 100%, Eliminates Royalty With Acquisition

http://www.canadianminingjournal.com/press-releases/story/?id=1003762809

OTTAWA, ONTARIO–(Marketwired – Feb. 17, 2016) – Aura Silver Resources Inc. (TSX VENTURE:AUU) (“Aura Silver” or the “Company”) is pleased to announce that it has entered into a binding letter agreement with Intrepid Mines Limited (“Intrepid”) for the acquisition of Intrepid’s 26.5% joint venture interest in our Taviche project located in Oaxaca State, Mexico. Subject to certain terms and conditions, this acquisition by Aura Silver consolidates to 100%, its ownership interest in the Taviche project and eliminates a potential 1.5% net smelter royalty (“NSR”) to Intrepid that would have applied to future production if Intrepid’s interest in the joint venture had fallen below 10%. Pan American Silver Corp. continues to hold a 1.5% NSR on the property.

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